market tagged posts

i need advice on how to stop foreclosure please?

I am looking for anyone who would have any advice on foreclosure matters. I was just served with a default of payment notice from an attorney concerning my home loan, the attorney has asked me to write a proposal with the due date being the 16th of this month. however i do not know what a proposal consist of and there is no one at the office all week.
i was also wondering if there is a reinstatement period after a default of payment has been issued and how long does that give me? they have not listed my house in auction or in the paper as of yet. but the bank will not speak to me.

any advice at all or personal experience please i am residing in canada and i truly wish to keep my home all the default payments can be made i just need another month or so that is why i am asking about how long...

Read More

Is Canada having the same housing crisis as the US is?

Just wondering about the foreclosure rate and the declining market trends.

No, we’re not. Our sub-prime lending rules are stricter than those in the US, and as a result, we weren’t hit by the subprime crisis. Our banks are taking a hit though, as many of them invest in US mortgages, and have suffered losses due to the housing crisis in the US.

Read More

How to find bank owned properties in Canada?

I don’t want to go through that kind of websites. I would like to get finding info. directly from financial institutions.

This is a great question.

You have to find the "vendor" of the property. I have a buddy that has purchased real estate in Canada and it iscompletely different than how it is handled here in the USA. Most, if not all, offers on properties are approved or denied through the court.

Your best bet is to find a Real Estate Company that sells in Canada (like Exit Realty) to help you navigate the Foreclosure market in Canada.

Good luck.

Read More